Tax

Transitional preferential tax treatment for hi-tech enterprises issued in view of the Enterprise Income Tax Law.

The Measures set forth the criteria for recognition as a hi-tech enterprise. After obtaining qualifications as a hi-tech enterprise, the enterprise is entitled to tax reduction or exemption.

Earlier this year the Ministry of Science and Technology, the Ministry of Finance and the State Administration of Taxation issued a circular containing new Measures on HNTE Recognition. These measures, along with a Catalogue of supported industries, detail HNTE recognition requirements and necessary administration procedures under the PRC Enterprise Income Tax Law.

Tax refund policy for reinvestments by foreign investors clarified.

By Ding Fa “David” LIUJun He Law OfficesWith the new Enterprise Income Tax Law (企业所得税法)(new EIT law) taking effect on January 1 2008, the…

Rate of tax prepayment raised to 20% for pre-sold premises.

International maritime transport not included in trial advance tax filing.

Procedures for advance tax filing for the service industry clarified.

Advance tax filing for the service industry implemented in six places for trial.